When establishing a trust, you must give serious thought to who you choose as your successor trustee—the person who will manage, invest, and hand out the trust’s accounts and property once you are no longer able to do so. This individual ideally should be someone you trust implicitly; someone who is organized, responsible, transparent, and […]
Trust
How to Choose a Trustee from Austin Estate Planning Attorney Liz Nielsen
When you establish a trust, you need to choose a trustee. A trustee does what you do right now with your financial affairs. Some of their duties include collecting income, paying bills and taxes, saving and investing for the future, buying and selling property, providing for your loved ones, keeping accurate records, and generally keeping […]
Supplemental Needs Trusts from Austin Estate Planning Attorney Liz Nielsen
If you want to provide for a loved one who is disabled or has special needs when you are no longer here, care must be taken to ensure that the inheritance you leave will help rather than harm your loved one. An inheritance received outright could negatively impact your loved one if he or she […]
Dual Citizenship and Estate Planning from Austin Estate Planning Attorney Liz Nielsen
In early 2020, married actors Tom Hanks and Rita Wilson became honorary citizens of Greece. The president of Greece bestowed this honor upon them due in large part to their humanitarian work in the country after a deadly wildfire swept through Athens in 2018. Hanks and Wilson spend considerable time in Greece as it is […]